HS Icon Electric instant, storage and immersion water heaters

851610 (Harmonized System 1992 for 6-digit)

World Trade (2018): $2.92B, Rnk 1029 / 4726

Top Exporter (2018): $700M, China

Top Importer (2018): $531M, United States

Product Complexity (2018): -0.07, Rnk 2743 / 4873

Export Growth (CAGR)(2017 - 2018): 6.43%, Rnk 3158 / 4726

Mean Tariff (2018): 13.7%, Rnk 1436 / 6538

Share of World Trade (2018): 0.016%, Rnk 1029 / 4726

Overview:  This page contains the latest trade data of Electric instant, storage and immersion water heaters. In 2018, Electric instant, storage and immersion water heaters were the world's 1029th most traded product, with a total trade of $2.92B. Between 2017 and 2018 the exports of Electric instant, storage and immersion water heaters grew by 6.43%, from  $2.74B to $2.92B. Trade in Electric instant, storage and immersion water heaters represent 0.016% of total world trade.

Exports: In 2018 the top exporters of Electric instant, storage and immersion water heaters  were China ($700M), Mexico ($304M), Italy ($223M), Germany ($219M), and United States ($199M).

Imports: In 2018 the top importers of Electric instant, storage and immersion water heaters were United States ($531M), Germany ($194M), France ($175M), United Kingdom ($136M), and Russia ($109M).

Tariffs: In 2018 the average tariff for Electric instant, storage and immersion water heaters was 13.7%, been the 1436 lowest tariff using the HS6 product classification.

The countries with the highest import tariffs for Electric instant, storage and immersion water heaters are Iran (52.5%), Egypt (45.5%), Bahamas (41.3%), Zimbabwe (36.5%), and Zambia (36.3%). The countries with the lowest tariffs are Mauritius (0%), Hong Kong (0%), Japan (0%), Singapore (0%), and Switzerland (0%).

Ranking: Electric instant, storage and immersion water heaters ranks 2743rd in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): China, $700M

Top Destination (2018): United States, $531M

Electric instant, storage and immersion water heaters are the world's 1029th most traded product.

In 2018, the top exporters of Electric instant, storage and immersion water heaters were China ($700M), Mexico ($304M), Italy ($223M), Germany ($219M), and United States ($199M).

In 2018, the top importers of Electric instant, storage and immersion water heaters were United States ($531M), Germany ($194M), France ($175M), United Kingdom ($136M), and Russia ($109M).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): Germany, $48.4M

Top Destination Growth (2017 - 2018): France, $44.3M

Between 2017 and 2018, the exports of Electric instant, storage and immersion water heaters grew the fastest in Germany ($48.4M), Mexico ($34.2M), Belgium-Luxembourg ($27.7M), Italy ($26M), and Malaysia ($21.6M).

Between 2017 and 2018, the fastest growing importers of Electric instant, storage and immersion water heaters were France ($44.3M), Spain ($26M), Russia ($19.3M), Ireland ($13.5M), and Slovakia ($10.3M).

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Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Electric instant, storage and immersion water heaters.

In 2018,  market concentration measured using Shannon Entropy, was 4.41. This means that most of the exports of Electric instant, storage and immersion water heaters are explained by 21 countries.

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TOP NET EXPORTER (2018): China, $676M

TOP NET IMPORTER (2018): United States, $333M

This map shows which countries export or import more of Electric instant, storage and immersion water heaters. Each country is colored based on the difference in exports and imports of Electric instant, storage and immersion water heaters during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Electric instant, storage and immersion water heaters were China ($676M), Mexico ($266M), Italy ($160M), Egypt ($110M), and Malaysia ($61.2M).

In 2018, the countries that had a largest trade value in imports than in exports of Electric instant, storage and immersion water heaters were United States ($333M), France ($118M), Spain ($90.1M), United Kingdom ($65.6M), and Russia ($61.2M).

Trade Forecasts

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This section shows forecasts for total trade for Electric instant, storage and immersion water heaters. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Import Tariffs

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In 2018, the average tariff for importing Electric instant, storage and immersion water heaters was 13.7%.  The countries with the highest tariffs for importing Electric instant, storage and immersion water heaters were Iran (52.5%), Egypt (45.5%), Bahamas (41.3%), Zimbabwe (36.5%), and Zambia (36.3%).

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Product Complexity

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Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.